Paul Krugman Backs “Inside Job,” and 4 Reasons Why You Should See It

Yesterday Paul Krugman posted to his blog that he finally got around to seeing Charles Ferguson’s documentary “Inside Job.” “Do see it if you can,” he recommends. “It will make your blood boil, and in a good way.”

“Inside Job” is a stunning documentary worthy of its acclaim. The film stands as a crystal-clear explanation of what led to the economic crisis, what the crisis actually was, and how we live today. If Paul Krugman vouching for the film isn’t enough, here are four reasons why you should see “Inside Job.”

1. Matt Damon’s soothing but angry voice
If you didn’t know Matt Damon went to Harvard, you will by the end of this film. The brilliant actor’s narrative tone is that of a bitter and betrayed man, i.e., the vox populi. Matt Damon should be president.

2. Animated infographs
A variety of long-form written articles as well as infographs have been provided to readers by some of the nation’s leading publishers in hopes of explaining what happened. They are complex and confounding. Ferguson’s film uses simple animation to explain what collateralized-debt obligations are and how they, when combined with credit-default swaps and other financial instruments, spelled disaster for unassuming Americans going about their daily lives.

3. Watching economists and bankers squirm
The majority of bankers and economists that defend the depraved practices of global financial institutions come across as stupid cynical bastards, more so when they’re stumbling over their words or requesting the cameras be shut off. Were it possible to punch someone in the face through a movie screen, you surely would.

4. If you’re on the fence about Obama, prepare to land on other side
Obama had a profound opportunity to dispel the common notion that there exists a Wall Street government. He had the opportunity to inflict massive amounts of damage on firms that traffic in fraudulent behavior and reward their employees for reckless behavior. He did not. He paid for it in 2010 and he’ll pay for it again in 2012.